The US Senate is close to passing a bill that contains a number of tax breaks for small businesses.
1. Self-employed people would be able to deduct medical insurance for themselves and their family on Schedule C for 2010.
2. Businesses could write off (instead of depreciating) up to $500,000 in machinery, equipment and similar fixed assets placed in service in 2010 and/or 2011.
3. The 50% depreciation bonus that was in effect for 2009 would be extended through 2010.
4. Expanded tax breaks on sale of small business stock.
5. And a few other provisions.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment